Common use of SUBORDINATION OF LESSEE AND GUARANTORS Clause in Contracts

SUBORDINATION OF LESSEE AND GUARANTORS. Lessee and Guarantors agree that (a) all indebtedness owed by Lessee under all agreements executed in connection with the Lessee's financing of certain personal property to be used in connection with the operation of the Facility, and (b) all fees due and payable under any Management Agreements, shall be subordinate to all monetary obligations under this Lease. All Management Agreements entered into shall expressly contain an acknowledgment of such subordination. At the request of the Lessor from time to time, Lessee shall execute, and obtain from all parties subject to such Management Agreements executed written confirmation of such subordination, which shall be delivered to Lessor within twenty (20) days from Lessor's request.